By CCN Markets: Year-to-date, litecoin price has increased by 357 percent against the U.S. dollar, outperforming every top ten crypto asset in the global market including bitcoin, Ethereum, and EOS. Crypto assets based on proof-of-work (PoW) blockchain networks that involve mining in the likes of bitcoin and litecoin go through a mechanism called halving every four years, an event that reduces the rate of the production of the assets by miners.

Other major crypto assets such as Ethereum, XRP, Bitcoin Cash, and EOS are down 72 to 88 percent against the U.S. dollar from their record highs, falling behind bitcoin and litecoin in terms of performance since all-time high. Spencer Noon, an investor at DTCC Capital, cited the strong hash rate of the Litecoin blockchain network and extended periods of solid performance as catalysts of the assetâ€™s momentum.

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